Sitharaman launches facility of Instant PAN via Aadhaar based e-KYC
- On 28 May 2020, The Finance Minister Nirmala Sitharaman has begun an instant PAN facility through Aadhaar e-KYC. this facility is according to the announcement that was made in the Union Budget.
Who will get facility ?
- PAN applicants that having a valid Aadhaar number and phone number that should be linked with Aadhaar, those applicants will be able to get new facility. The electronic PAN (e-PAN) will be available to applicants free of cost.
Aim –
- Instant PAN facility will help in making ease the process of allotment of PAN in upcoming months. along with it, applicants will get instantly allotted online on the basis of Aadhaar and they will not have to fill detailed application forms.
Key Points –
- The ‘Beta version of Aadhaar based e-KYC was begun on February 12 , 2020. applicants could fill forms on the e-filing website of the Income Tax Department.
- More than 6,77,000 applicants filled for instant till 25 May 2020 during the trial.
- More than 50.50 crore PANs that were allotted to the taxpayers and approx 49.39 crore is allotted to the individuals.
- The instant PAN applicant need to visit the e-filing website of the IT Department to submit the individual’s valid Aadhaar number and then, click on submit button, you will get the OTP received on her/his Aadhaar registered mobile number.
- Once process completes then, Applicant will have 15-digit acknowledgment number.
- An Applicant will be able to check The status of the application by providing her/his valid Aadhaar number and on the successful allotment. apart from this, he/she can download the e-PAN.
About Income Tax (IT) Department –
Founded: 1860
Minister responsible: Nirmala Sitharaman
Headquarters: New Delhi
Instant PAN via Aadhaar based e-KYC